Torsion secure £114m new contracts

Torsion Group secures £144m of projects which includes four schemes within its residential and purpose-built student accommodation (PBSA) division.

Lancaster Wharf, Birmingham | PBSA News
Lancaster Wharf, Birmingham.

Construction and property business Torsion Group have secured £144m of projects which includes four schemes within its residential and purpose-built student accommodation (PBSA) division, including its first development in Manchester.

The four schemes by Torsion include the £10.2m PBSA scheme in York, the £32m PBSA scheme with Bricks Group, the £46m Birmingham based Lancaster Wharf residential for sale development for Select Property, and the £25.9m residential for sale scheme in Manchester.

All four developments are being developed by Torsion Construction, however, due to the challenging market conditions over the last few years, the company has utilised its design-to-budget philosophy to secure these schemes.

Torsion Group also successfully handed over two PBSA developments in 2022; Compass, a 290-bed scheme in Birmingham and Trapezium, a 91-bed scheme in Leeds.

The Compass development recently received the Fitwel three-star certification, the world’s leading building certification system that focusses on the health and wellbeing of residents.

“With the developments and operational businesses thriving and such an exciting period of growth within the construction business, I will be taking a more hands-on role in leading the construction part of the group throughout the growth period, providing additional stability, growth and continuity. This is an exciting time for our business with the growing pipeline of student and residential schemes as well as expansion into the Manchester region. Our first scheme in Manchester signifies a new chapter in our growth and is the first of several higher value projects that we are pursuing in the North-West. The development will deliver high-quality residential accommodation in a city centre location that will contribute to the thriving Manchester economy.”

Dan Spencer, Chief Executive, Torsion Group

In addition to the new contract wins Torsion Group has a very significant development pipeline, with four major projects currently consented or in planning in Birmingham, Leeds, Sheffield and Coventry to deliver 881 beds by 2025.

Alongside the new contracts, Torsion Group is currently looking to recruit Project and Commercial Leaders in the Midlands, North West and Yorkshire.

“We have invested in our business to ensure we have the right calibre of staff and infrastructure to deliver all our schemes. The new developments will deliver significant progression in achieving our business growth plan, which has strong foundations on our strategy of recruiting the best people in the industry.”

Dan Spencer, Chief Executive, Torsion Group

The recent series of new business wins means that the Torsion Group is on course to top £122m turnover in 2023.